Ormat Technologies (NYSE:ORA) said March 30 that its subsidiary has signed an agreement with a subsidiary of Alevo Group SA, a leading provider of energy storage systems, to jointly build, own and operate the Rabbit Hill Energy Storage Project, located in Georgetown, Texas.
Ormat will own and fund the majority of the Rabbit Hill energy storage project and under the terms of the agreements, will provide engineering, construction services and balance of plant equipment.
Alevo will provide its GridBank inorganic lithium ion energy storage system in conjunction with the power conversion systems. In addition, Alevo will provide ongoing management and operations and maintenance services for the life of the project.
The Alevo website indicated the company is also using its technology to develop a storage project in Lewes, Delaware.
The 10 MW project will consist of three GridBank enclosures and will provide fast responding regulation services (FRRS) as an open market participant in the Electric Reliability Council of Texas (ERCOT), an independent system operator that manages the flow of electric power to Texas customers.
The Rabbit Hill project represents an important milestone in the evolution of the Texas market, which has more wind installed than any other state and has a rapidly expanding base of installed solar energy projects, the companies said.
An entity called Narrow Gate Energy had filed an application with the Texas Public Utility Commission last summer seeking to build a 10-MW energy storage project in Georgetown.